Layoffshttp://www.adweek.com/taxonomy/term/3352/all
enStuart Elliott Takes Buyout as NYT Continues to Lose Top Media and Advertising Reportershttp://www.adweek.com/news/press/stuart-elliott-takes-buyout-nyt-continues-lose-top-media-and-advertising-reporters-161738
David Griner<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/stuart-elliott-hed-2014.png"> <p>
The giant sucking sound you might be hearing from Manhattan this week is probably the vacuum of media and marketing insight being created by New York Times buyouts.</p>
<p>
Stuart Elliott, the newspaper&#39;s longest-serving advertising columnist, has announced he will be &quot;taking part in the (generous) buyout offer the Times has made to longtime employees.&quot; After more than 23 years in the role, his last day will be Dec. 19.</p>
<p>
&quot;For many, many years covering advertising, marketing and media, I&#39;ve written about people [who] are &#39;leaving to pursue other interests&#39; or leaving &#39;to explore career opportunities&#39; or even to &#39;spend more time with (his/her) family,&#39;&quot; Elliott said in a Facebook announcement about his retirement. &quot;Now I am going to be one of those people. ... It is scary, and exciting, and I want to thank everyone who has helped me all these years in tackling this demanding job.&quot;</p>
<p>
Elliott joins several massively influential colleagues who are also taking a paid exit, including <a href="http://www.huffingtonpost.com/2014/12/01/bill-carter-buyout-new-york-times_n_6249030.html" target="_blank">25-year TV beat reporter</a><a href="http://www.huffingtonpost.com/2014/12/01/bill-carter-buyout-new-york-times_n_6249030.html" target="_blank">&nbsp;Bill Carter</a> and newspaper/magazine industry writer <a href="http://www.mediabistro.com/fishbowlny/more-ny-times-buyouts_b234389" target="_blank">Christine Haughney</a>.&nbsp;</p>
<p>
&quot;After eight years with @nytimes including nearly three years writing about my colleagues in the troubled newspaper industry, I am taking a buyout!&quot; Haughney wrote on Twitter. &quot;Still deciding what I&#39;m going to do after @nytimes. But I&#39;m excited to figure it out!&quot;</p>
<p>
Facing a long-term budget crisis, Times executives are hoping to shed 100 newsroom positions through voluntary buyouts and, if needed, layoffs. It is only the most recent round of large-scale staff reductions for the newspaper, which also cut 100 newsroom jobs in 2008, another 100 in 2009 and about 30 in 2013. The newsroom staff now stands at about 1,330, <a href="http://www.nytimes.com/2014/10/02/business/media/new-york-times-plans-cutbacks-in-newsroom-staff.html" target="_blank">according to its own reports.</a></p>
<p>
&quot;There is no getting around the hard fact that the newsroom will have to lose 100 jobs.&nbsp;We hope to meet this number through voluntary buyouts,&quot; executive editor Dean Baquet wrote <a href="http://www.poynter.org/news/mediawire/272323/nyt-plans-buyouts-layoffs-if-necessary-to-cut-100-newsroom-staffers/" target="_blank">in a recent memo to staffers.</a> &quot;But if we don&rsquo;t get there we will be forced to do layoffs.&nbsp;The buyout packages are generous, especially for people with decades of service.&quot;</p>
<p>
For those in the advertising world, Elliott&#39;s departure might be the most stunning. He is widely considered the most influential advertising journalist in the U.S. and has guided the newspaper&#39;s coverage of the ad industry for decades.&nbsp;</p>
<p>
Here are just a few of the many responses and warm send-offs posted to Twitter since Elliott&#39;s announcement:</p>
<blockquote class="twitter-tweet" lang="en">
<p>
Mad Ave without <a href="https://twitter.com/stuartenyt">@stuartenyt</a> is as hard to imagine as, say, NYT without <a href="https://twitter.com/stuartenyt">@stuartenyt</a>. We&#39;ll miss you, sir.</p>
&mdash; David Joachim, NYT (@davidjoachim) <a href="https://twitter.com/davidjoachim/status/540174894265544704">Dec. 3, 2014</a></blockquote>
<blockquote class="twitter-tweet" lang="en">
<p>
Wow. The ad business without <a href="https://twitter.com/stuartenyt">@stuartenyt</a> covering it will be a less elegant business indeed. Best wishes to you, Stuart.</p>
&mdash; Goodby Silverstein (@GSP) <a href="https://twitter.com/GSP/status/540181449614192640">Dec. 3, 2014</a></blockquote>
<blockquote class="twitter-tweet" lang="en">
<p>
Everything I know about the advertising industry, I learned from <a href="https://twitter.com/stuartenyt">@stuartenyt</a>. We&#39;re all sad to see you go, Stuart! Best of luck.</p>
&mdash; Maura McGreevy (@mmcgreevy) <a href="https://twitter.com/mmcgreevy/status/540202238183227393">Dec. 3, 2014</a></blockquote>
<blockquote class="twitter-tweet" lang="en">
<p>
Say it ain&#39;t so .<a href="https://twitter.com/stuartenyt">@stuartenyt</a>! So smart, so kind, one of the best in the business. Wishing you all the best for your next chapter!</p>
&mdash; Don Halcombe (@dhalcombe) <a href="https://twitter.com/dhalcombe/status/540200814598295552">Dec. 3, 2014</a></blockquote>
<blockquote class="twitter-tweet" lang="en">
<p>
The first thing I did in my advertising career was sign up for the <a href="https://twitter.com/stuartenyt">@stuartenyt</a> weekly newsletter. I&#39;ve read it every week since. Good luck!</p>
&mdash; Jon Hsia (@FeversFlavor) <a href="https://twitter.com/FeversFlavor/status/540196506276732928">Dec. 3, 2014</a></blockquote>
<blockquote class="twitter-tweet" lang="en">
<p>
The best part about <a href="https://twitter.com/stuartenyt">@stuartenyt</a>? He doesn&rsquo;t pretend to be unreachable (even though he could). Younger media could learn a thing or two.</p>
&mdash; Nick Dimichino (@ndimichino) <a href="https://twitter.com/ndimichino/status/540195819505213440">Dec. 3, 2014</a></blockquote>
The PressBill CarterLayoffsNew York TimesNewspapersStuart ElliottDavid GrinerWed, 03 Dec 2014 18:19:04 +0000161738 at http://www.adweek.comWWE Will Cut 7% of Its Workforcehttp://www.adweek.com/news/television/wwe-will-cut-7-its-workforce-159238
Erik Oster<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/unknown_174.jpeg"> <p>
World Wrestling Entertainment will slash 7 percent of its workforce after reporting operating at a loss in the second quarter due to the costs of ramping up its online-subscription service.</p>
<p>
WWE reported a net loss of $14.5 million, compared to a net profit of $5.2 million last year. &quot;The staff cuts, and other cost-cutting moves, would help boost operating income before depreciation and amortization by $30 million in 2015,&quot; WWE said, adding that the cuts would affect 50-60 staffers across all business units.</p>
<p>
The WWE Network launched in February, making WWE <a href="http://www.adweek.com/news/technology/wwe-network-first-ditch-traditional-cable-155222" target="_blank">the first entertainment company with a cable presence to offer a stand-alone online subscription service</a>. Yesterday, WWE reported 33,000 WWE Network subscribers since April for a total of 700,000 subscribers&mdash;still 300,000 short of its year-end goal of 1 million. <a href="http://online.wsj.com/articles/wwe-to-cut-7-of-its-workforce-1406839825" target="_blank">According to The Wall Street Journal</a>, the company &quot;noted that 1.3 million to 1.4 million subscribers would put it past a break-even point offsetting difficulties in pay-per-view.&quot;</p>
<p>
To increase interest, WWE will add new payment options (the service was originally available only as a six-month subscription), including a commitment-free $19.99 monthly plan.</p>
<p>
&quot;For us the payment options are one way to continue learning, to see how people approach it,&quot; George Barrios, WWE&#39;s chief strategy and financial officer, told The Wall Street Journal. &quot;The fact that we&#39;ve gone from 0 to 700,000 paying subscribers, I feel really proud.&quot;</p>
TelevisionLayoffsnet lossstaff cutworkforceWorld Wrestling EntertainmentErik OsterWWE NetworkFri, 01 Aug 2014 14:55:36 +0000159238 at http://www.adweek.comDespite Promises to Advertisers, Microsoft Disbands Xbox TV Studiohttp://www.adweek.com/news/technology/despite-promises-advertisers-microsoft-disbands-xbox-tv-studio-158974
Garett Sloane<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/xbox-originals-hed-2014.jpg"> <p>
Microsoft&#39;s digital TV strategy is toast, with its Los Angeles studio closing during <a href="http://www.adweek.com/news/technology/microsoft-announces-largest-ever-round-layoffs-158957" target="_blank">this massive round of layoffs. </a>Microsoft confirmed today that Xbox Entertainment Studios is shutting down, potentially undermining promises Microsoft made at its <a href="http://www.adweek.com/news/technology/rating-2014-newfronts-157444" target="_blank">NewFronts this year</a> to deliver a deep lineup of new shows streaming to living rooms.</p>
<p>
The studio had faced repeated delays, and its most anticipated program&mdash;based on the hit Xbox game Halo and produced by Steven Spielberg&mdash;is still in the works. But questions surround the remaining lineup that Microsoft pitched in New York just three months ago.</p>
<p>
<a href="http://www.adweek.com/news/technology/microsoft-tells-advertisers-its-committed-content-xbox-shows-157336" target="_blank">At the NewFronts,</a> Microsoft&#39;s vp of agency accounts Stephen Kim told buyers &quot;our commitment to advertising is clear.&quot; At the time, the Xbox-maker discussed the Halo show, new reality series, comedy shows and documentaries.</p>
<p>
Today, Microsoft announced 18,000 layoffs under its new CEO Satya Nadella. Most of the cuts&mdash;12,500&mdash;came from Nokia, which Microsoft bought earlier this year.</p>
<p>
<img src="/files/imagecache/node-detail/halo-hed-2014.jpg" /></p>
<p>
After reports earlier today that the L.A.-based studio was in trouble, Microsoft confirmed its was shutting it down as part of the organizational changes. The company said Nancy Tellem and Jordan Levin would remain to oversee the development of some shows in the pipeline.</p>
<p>
&ldquo;Xbox will continue to support and deliver interactive sports content like &lsquo;NFL on Xbox,&rsquo; and we will continue to enhance our entertainment offering on console by innovating the TV experience through the monthly console updates,&rdquo; head of Microsoft Studios Phil Spencer said in a press statement today. &ldquo;Additionally, our app partnerships with world-class content providers bringing entertainment, sports and TV content to Xbox customers around the world are not impacted by this organizational change.&rdquo;</p>
<p>
Nadella did not mention the studio in a strategy memo sent to employees this week, in which he outlined his focus for the company.</p>
<p>
The Xbox gaming team still seems to be a priority, for now, and the console is Microsoft&#39;s strongest consumer brand, according to tech analyst Colin Gillis with BGC Partners.</p>
<p>
Still, closing the entertainment studio puts an end to an expensive and confusing effort, with marketers constantly questioning Microsoft&#39;s commitment to developing its own shows.</p>
<p>
&quot;The Halo franchise budget is like a Hollywood movie,&quot; Gillis said. &quot;That&#39;s a big budget.&quot;</p>
<p>
While Microsoft gets out of producing its own streaming video, <a href="http://www.adweek.com/videowatch/aol-debuts-24-hour-curated-video-experience-157034" target="_blank">companies like Yahoo and AOL are pushing full force into original programming,</a> Forrester analyst James McQuivey noted.</p>
<p>
&quot;Other than Halo-related concepts, this was a unit that never got off the ground, largely because it didn&#39;t know what its mission was,&quot; McQuivey said. &quot;It&#39;s interesting that this is happening at the same time that everyone else, including Yahoo!, is now committing to original content production wholeheartedly.&quot;</p>
Technologydigital newfrontForresterForrester ResearchHaloJames McQuiveyGarett SloaneMicrosoftMicrosoft ceonancy tellemNewFrontssatya nadellaSteve BallmerSteven SpielbergXboxxbox contentxbox entertainment studiosxbox liveXbox Onexbox originalsThu, 17 Jul 2014 19:21:46 +0000158974 at http://www.adweek.comModCloth Cuts Almost 15% of Staffhttp://www.adweek.com/news/technology/modcloth-cuts-almost-15-staff-158972
Erik Oster<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/modcloth-hed-2014.jpg"> <p>
Online clothing retailer ModCloth, which specializes in vintage designs, recently laid off 15 percent of its staff, or approximately 70 employees, <a href="http://techcrunch.com/2014/07/16/modcloth-layoffs/" target="_blank">TechCrunch reports</a>. The layoffs affected employees at all three company offices, in San Francisco, Los Angeles and Pittsburgh.</p>
<p>
Last year, <a href="http://www.fastcompany.com/most-innovative-companies/2013/nasty-gal-modcloth-styleseat-science-snapette-birchbox-ahalife#2" target="_blank">Fast Company named</a> ModCloth one of its &quot;Most Innovative Companies 2013,&quot; and reported that the company was growing at over 50 percent annually. Founders Eric Koger and Susan Greg Koger also recently raised over $25 million, funding an expansion of the company.</p>
<p>
Perhaps the cuts are a sign that the expansion was an overreach.</p>
<p>
ModCloth <a href="http://techcrunch.com/2013/07/19/modcloth-now-with-over-100-million-in-annual-revenue-is-going-mobile-first/" target="_blank">told TechCrunch last year</a> that it saw more than $100 million in revenue and was increasing its focus on mobile. That publication posits that the cuts &quot;represent an effort at restructuring and consolidation&quot; but don&#39;t indicate &quot;a broader shift in direction.&quot; They also point out that, despite the cuts, ModCloth is <a href="http://www.modcloth.com/about_us/careers/openings" target="_blank">still hiring</a>.</p>
TechnologyCommerceLayoffsModclothErik Oster158972 at http://www.adweek.comMicrosoft Announces Largest Ever Round of Layoffshttp://www.adweek.com/news/technology/microsoft-announces-largest-ever-round-layoffs-158957
Erik Oster<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/microsoft-commons-layoffs-hed-2014.jpg"> <p>
Microsoft plans to cut up to 18,000 jobs by the middle of next year, as part of &quot;a restructuring plan to simplify its organization and align the recently acquired Nokia Devices and Services business with the company&rsquo;s overall strategy,&quot; the company said <a href="http://www.microsoft.com/en-us/news/press/2014/jul14/07-17pressrelease.aspx" target="_blank">in a statement</a> today.</p>
<p>
Of that total &quot;about 12,500 professional and factory positions will be eliminated through synergies and strategic alignment of the Nokia Devices and Services business acquired by Microsoft on April 25,&quot; with the restructuring plan to be &quot;substantially complete&quot; by Dec. 31 of this year and fully completed by June 30, 2015.</p>
<p>
&quot;My promise to you is that we will go through this process in the most thoughtful and transparent way possible,&quot; said CEO Satya Nadella in a memo to employees, followed by promises of severance and job transition help. Nadella also stressed that while Microsoft would be cutting jobs in some areas, they would also be &quot;adding roles in certain other strategic areas.&quot; He also stated in the memo that most employees impacted by the restructuring would be notified within the next six months. He cited &quot;work simplification&quot; and &quot;Nokia Devices and Services integration synergies and strategic alignment&quot; as reasons for the layoffs.</p>
<p>
This is Microsoft&#39;s largest ever round of layoffs, <a href="http://recode.net/2014/07/16/microsofts-largest-ever-layoffs-coming-thursday-with-former-nokia-hardest-hit/" target="_blank">according to Re/code</a>. Nadella replaced Steve Ballmer as CEO back in February, and many analysts see the restructuring effort as indicative of his overall approach of simplifying Microsoft&#39;s infrastructure. Shares in the company were up 3.3 percent in pre-market trading.</p>
<p>
<a href="http://www.latimes.com/business/technology/la-fi-tn-microsoft-cuts-20140717-story.html" target="_blank">According to the Los Angeles Times,</a> the cut represents about 14 percent of Microsoft&#39;s total workforce, which is estimated at 127,000.</p>
TechnologyLayoffsMicrosoftNokiasatya nadellaSteve BallmerErik OsterThu, 17 Jul 2014 14:16:53 +0000158957 at http://www.adweek.comTime Inc. Spinoff Set for June 6http://www.adweek.com/news/press/time-inc-spin-set-june-6-157577
Emma Bazilian<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/joseph-ripp-hed-2014.jpg"> <p>
Save the date: On June 6, Time Inc. will officially complete its long-awaited spinoff from parent company Time Warner, which was<a href="http://www.adweek.com/news/press/meredith-talks-dead-time-inc-will-spin-147751" target="_blank"> first announced</a> over a year ago.</p>
<p>
<a href="http://www.sec.gov/Archives/edgar/data/1591517/000119312514189621/d627840dex991.htm" target="_blank">According to a filing</a> with the Securities and Exchange Commission, current Time Warner shareholders will receive one share of Time Inc. stock for every eight shares of Time Warner stock owned as of May 23. Upon completion of the spinoff, Time Warner shareholders will own 100 percent of the outstanding shares of Time Inc. common stock, which will likely trade under the symbol TIME. (Time Warner is currently listed as TWX.)</p>
<p>
In anticipation of the spinoff, Time Inc. CEO Joe Ripp implemented a slew of <a href="http://www.adweek.com/news/press/time-inc-announces-reorganization-layoffs-155475" target="_blank">cost-saving measures</a>, such as combining the company&rsquo;s formerly separate brand clusters under one operating umbrella and implementing layoffs that will eliminate about 500 jobs. The company is also looking into relocating from its longtime headquarters at the Time Life building in Midtown to a less expensive location downtown. In the SEC filing, the company said that it anticipates &ldquo;additional headcount reductions and real estate consolidations in the future.&rdquo;</p>
<p>
&ldquo;As an independent, publicly-traded company, we believe we can more effectively focus on our objectives and satisfy the strategic needs of our business,&rdquo; Ripp said in a letter to investors.&nbsp;</p>
The PressJoe RippLayoffsspin-offsTime Inc.MagazineFri, 09 May 2014 15:46:56 +0000157577 at http://www.adweek.comTBWA\Chiat\Day L.A. Cuts 5% of Its Staffhttp://www.adweek.com/news/advertising-branding/tbwachiatday-la-cuts-5-its-staff-156282
Noreen O'Leary<p>
<img alt="" src="/files/65249-TBWA2.jpg" style="width: 300px; height: 200px; float: right; margin-left: 10px; margin-bottom: 10px;" />The Playa del Rey, Calif. office of TBWA\Chiat\Day is laying off about 24 employees or roughly 5 percent of its total staff of 450, sources said.</p>
<p>
The downsizing comes after the Omnicom Group agency, once the Pepsi&#39;s brand lead agency in the U.S., saw its responsibilties shrink on the brand. The cut also comes after the office came up short in Wells Fargo&#39;s creative review, which sister shop <a href="http://www.adweek.com/news/advertising-branding/bbdo-wins-big-pitch-wells-fargo-155988" target="_blank">won on Tuesday</a>.</p>
<p>
A TBWA\C\D rep could not be reached for comment.</p>
<p>
The L.A. office also has experienced management changes recently. In January, Luis DeAnda <a href="http://www.adweek.com/news/advertising-branding/tbwa-veteran-luis-deanda-takes-new-role-la-office-155223" target="_blank">became</a> general manager, shifting from global managing director at TBWA\MAL, the agency&rsquo;s dedicated unit for Apple. And last month, chief creative officer <a href="http://www.adweek.com/news/advertising-branding/steve-stoute-adds-new-leaders-translation-155777" target="_blank">John Norman left</a> amid a <a href="http://www.adweek.com/news/advertising-branding/tbwa-recasts-again-atop-its-creative-department-la-155776" target="_blank">search</a> for his successor. Carisa Bianchi remains president.</p>
<p>
The office&#39;s top accounts include Nissan, Gatorade, Energizer and Southwest Airlines.</p>
Advertising & BrandingCarisa BianchiJohn NormanLayoffsLuis DeAndaOmnicom GroupNoreen O'LearyTBWA\Chiat\DayWells FargoThu, 13 Mar 2014 18:50:25 +0000156282 at http://www.adweek.comCrispin Attributes 10% Staff Cut to Arby's, Microsoft http://www.adweek.com/news/advertising-branding/crispin-attributes-10-staff-cut-arbys-microsoft-155011
Andrew McMains<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/arbys-sandwich-rb-hed-2014.jpg"> <p>
Crispin Porter + Bogusky trimmed its U.S. staff by 10 percent, a cut that stems chiefly from the loss of Arby&#39;s and shrinkage in the agency&#39;s Microsoft business.</p>
<p>
In a statement, <a href="http://www.adweek.com/news/advertising-branding/steve-erich-becomes-president-crispin-154846" target="_blank">new agency president</a> Steve Erich cited both factors as reasons for the cut, which equates to roughly 60-70 positions across the shop&#39;s offices in Boulder, Colo.; Los Angeles and Miami.</p>
<p>
Erich added that &quot;these decisions are always difficult as they affect our colleagues who have made many contributions.&quot;</p>
<p>
Arby&#39;s left in November, and the fast-food chain is now in the late stages of a search for a new lead creative agency. The <a href="http://www.adweek.com/news/advertising-branding/3-shops-reach-finals-arbys-review-154064" target="_blank">finalists</a> are Fallon, BBDO and The Martin Agency.</p>
<p>
Crispin&#39;s share of Microsoft, meanwhile, has shrunk considerably in the past few years, as the company has shifted assignments among roster shops. That said, the MDC Partners agency continues to create ads for the company&#39;s Xbox game system. Microsoft, however, is now looking to consolidate its <a href="http://www.adweek.com/news/advertising-branding/microsoft-launches-global-review-marketing-services-154953" target="_blank">global marketing services business</a> within a single holding company.</p>
<p>
On the plus side, Crispin in recent months has added accounts such as <a href="http://www.adweek.com/news/advertising-branding/hotelscom-picks-crispin-its-creative-account-153463" target="_blank">Hotels.com</a> and Turkish Airlines.</p>
Advertising & BrandingArby'sCrispin Porter + BoguskyLayoffsMDC PartnersMicrosoftAndrew McMainsThu, 16 Jan 2014 17:24:22 +0000155011 at http://www.adweek.comMartha Stewart Living Hit by Holiday Layoffshttp://www.adweek.com/news/press/martha-stewart-living-hit-holiday-layoffs-154461
Emma Bazilian<p>
Martha Stewart Living Omnimedia is undergoing a major round of pre-Christmas layoffs. The New York Post <a href="http://nypost.com/2013/12/12/martha-stewart-to-ax-100-staffers/" target="_blank">reported</a> that up to 100 MSLO staffers&mdash;or about 25 percent of the company&rsquo;s workforce&mdash;were expected to be axed today.</p>
<p>
One MSLO staffer described the current office atmosphere as &ldquo;really awful,&rdquo; adding, &ldquo;It&rsquo;s really scary and terrible right before the holidays.&rdquo;</p>
<p>
According to the Post, the layoffs are expected to hit the flagship Martha Stewart Living magazine especially hard amid speculation that the company is planning to deemphasize its media arm as it focuses more on licensing and product lines.</p>
<p>
Advertisingwise, Martha Stewart Living had an up year, with full-year ad pages rising nearly 16 percent over 2012. Circulation was flat in the first half of 2013, and newsstand sales dropped 13 percent. The magazine unveiled a well-received redesign in July in hopes of boosting those numbers.</p>
<p>
A company spokeswoman declined to comment on the report.</p>
The PressLayoffsMartha StewartMartha Stewart LivingMartha Stewart Living OmnimediaMagazineThu, 12 Dec 2013 17:27:56 +0000154461 at http://www.adweek.comLayoffs Hit The Daily Beasthttp://www.adweek.com/news/press/layoffs-hit-daily-beast-153004
David Taintor<p>
The Daily Beast may be <a href="http://www.adweek.com/news/press/daily-beast-has-post-tina-brown-future-now-152592" target="_blank">spared from shuttering</a> for at least another year, but it will continue to operate with a staff that&#39;s about two dozen employees lighter, according to Adweek sister publication <a href="http://www.hollywoodreporter.com/news/daily-beast-lays-two-dozen-645192?utm_source=Sailthru&amp;utm_medium=email&amp;utm_term=hollywoodreporter_breakingnews&amp;utm_campaign=THR%20Breaking%20News_now_sschillaci" target="_blank">The Hollywood Reporter</a>.</p>
<p>
The majority of the job cuts came out of the New York office, where the Beast is headquartered, but people were also laid off in the Washington, D.C., and Los Angeles offices, according to the report.</p>
<p>
Capital New York first <a href="http://www.capitalnewyork.com/article/media/2013/10/8534196/daily-beasts-john-avlon-rallies-troops-roughly-20-colleagues-lose-thei" target="_blank">reported</a> on the layoffs last week, noting that about 65 employees remain on staff at the site.</p>
<p>
The Daily Beast&#39;s corporate owner, IAC, <a href="http://www.adweek.com/news/press/daily-beast-has-post-tina-brown-future-now-152592" target="_blank">approved a 2014 budget</a> for the site late last month, dispelling&mdash;at least temporarily&mdash;reports that the site would fold after outgoing editor Tina Brown <a href="http://www.adweek.com/news/press/tina-brown-reportedly-leaving-daily-beast-start-her-own-company-152364" target="_blank">departs</a> at the end of the year. &quot;The Daily Beast is not for sale and is not closing,&quot; interim CEO Rhona Murphy said in a statement on Sept. 20.</p>
<p>
In the same statement, the company announced that the site is set to undergo a redesign. The Daily Beast, though, is expected to lose millions of dollars this year, <a href="http://www.adweek.com/news/press/following-newsbeast-mess-whats-tina-browns-next-act-152026" target="_blank">sources told Adweek</a> back in August.</p>
The PressIACLayoffsOnlineThe Daily BeastTina BrownWed, 09 Oct 2013 02:00:00 +0000153004 at http://www.adweek.comMachinima Lays Off 10 Percent of Staffhttp://www.adweek.com/videowatch/machinima-lays-10-percent-staff-152510
Mike Shields<img src="http://www.adweek.com/files/imagecache/node-detail/blogs/machinima-hed-2013.jpg"> <p>
A hot medium (Web video) plus a red hot category (gaming) along with <a href="http://techcrunch.com/2012/05/21/machinima-youtube-35m/" target="_blank">plenty of funding from Google</a>&nbsp;should equal big-time success and growth. So why is <a href="http://www.adweek.com/news/technology/machinima-adventures-digital-content-company-139319" target="_blank">Machinima</a> cutting jobs for the <a href="http://www.joystiq.com/2012/12/14/machinima-layoffs/" target="_blank">second time in less than a year?</a></p>
<p>
It&#39;s hard to say, but according to a statement, the YouTube-centric network is shedding 10 percent of its workforce, or 22 positions, as part of an apparent growth plan.&nbsp;</p>
<p>
&ldquo;In connection with Machinima&#39;s growth plan, the company is making an increased commitment to premium programming, its YouTube affiliate network and multiplatform distribution,&quot; said a Machinima statement. &quot;As a result of an increased need for investment in these areas, Machinima is eliminating positions representing approximately 10 percent of the company&#39;s workforce equating to 22 of 206 employees. Over the next several months, Machinima will announce new programming and distribution initiatives that will advance the next phase of this strategic plan.&rdquo;</p>
<p>
Amazingly, despite how seemingly in-demand Machinima&#39;s male-oriented gaming and entertainment audience is, the company did the same thing last December, <a href="http://variety.com/2012/digital/news/machinima-cuts-20-jobs-1118063662/" target="_blank">dumping 20 jobs</a>. Perhaps this speaks to the <a href="http://readwrite.com/2013/08/29/the-youtube-economy-is-in-peril#awesm=~ohP5HudiBJ2Ajx" target="_blank">challenging business model facing all YouTube multichannel networks.</a></p>
<p>
According to Allthingsd, early this summer Machinima was seeking a much bigger funding round. And there have been many rumors of a possible Machinima sale&mdash;with companies ranging from CBS to Adweek parent company <a href="http://guggenheimpartners.com/news/guggenheim-launches-guggenheim-digital-media-appo" target="_blank">Guggenheim Digital Media </a>supposedly&nbsp;kicking the tires on the startup.</p>
<p>
The timing is somewhat unfortunate for Machinima, as the company is prepping for the big launch of Season 2 of its big hit <a href="http://screenrant.com/mortal-kombat-legacy-season-2-cast-interview/" target="_blank">Mortal Kombat.</a></p>
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TechnologyLayoffsMachinimaVideoWeb VideoYoutubeWed, 18 Sep 2013 20:28:18 +0000152510 at http://www.adweek.comESPN Lays Off More Than 100 Employeeshttp://www.adweek.com/news/television/espn-lays-more-100-employees-149702
Anthony Crupi<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/sportcenter-espn-hed-2013.jpg"> <p>
ESPN on Tuesday began making a significant reduction of its work force, laying off more than 100 employees at its Bristol, Conn., headquarters and in at least one regional technology center.</p>
<p>
While a precise headcount has not been confirmed, sources said as many as 150 people have been let go, a number that includes <a href="http://jobs.espncareers.com/bristol-jobs" target="_blank">open positions</a> that will not be filled. Some 4,000 employees work at the Bristol campus. All told, the company employs 7,000 workers worldwide.</p>
<p>
ESPN acknowledged the layoffs in a statement released this afternoon: &ldquo;We are implementing changes across the company to enhance our continued growth while smartly managing costs. While difficult, we are confident that it will make us more competitive, innovative and productive.&rdquo;</p>
<p>
The last time ESPN made deep cuts in payroll was in May 2009, when approximately 100 staffers were laid off and 200 vacant positions were left open.</p>
<p>
The layoffs come on the heels of a record day on Wall Street for ESPN parent <a href="http://thewaltdisneycompany.com/investors" target="_blank">Walt Disney Co.</a> On May 7, shares soared to a record $66.07 as the company delivered better-than-expected FY Q2 earnings.</p>
<p>
ESPN did much of the heavy lifting for Disney&rsquo;s media networks division, as the cable networks generated $3.46 billion in revenue for the three-month period that ended on March 30. Per RBC Capital estimates, ESPN accounts for 69 percent of Disney&rsquo;s cable revenues; as such, the sports giant is likely to have delivered $2.4 billion in quarterly revenue.</p>
<p>
In recent years, ESPN has laid out gargantuan sums of cash for the live sports rights that keep its engine purring. Last May, ESPN and the ACC inked a 15-year extension of their existing rights contract at a rate of $240 million per year or $3.6 billion. The rights to the <a href="http://www.adweek.com/news/advertising-branding/new-title-game-sponsorship-could-cost-35-million-146361" target="_blank">new Bowl Championship Series playoffs</a> will cost $560 million per year through 2025, while re-upping with <a href="http://www.adweek.com/news/television/espn-renews-mlb-rights-deal-through-2021-143163" target="_blank">Major League Baseball</a> ($5.35 billion through 2021) and the <a href="http://www.adweek.com/news/television/espn-re-ups-monday-night-football-pact-through-2021-134689" target="_blank">National Football League</a> ($15.5 billion through 2021) were two other high-profile moves.</p>
<p>
The network&rsquo;s current $3.88 billion deal with the National Basketball Association expires at the end of the 2015 season.</p>
<p>
Another costly line item is ESPN&rsquo;s new digital center, which is being erected in Bristol at a cost of around $125 million. Midway through its 2013-14 upfront presentation, ESPN last week gave media buyers and advertisers their first look at the Digital Center 2 facility and the <a href="http://www.youtube.com/watch?feature=player_embedded&amp;v=bX0JfXzwAlk" target="_blank">new SportsCenter set</a>.</p>
<p>
On the other side of the ledger, ESPN makes a killing on affiliate fees, charging operators an average rate of $5.01 per subscriber per month, according to SNL Kagan estimates. Last year, the flagship network collected $5.96 billion in sub fees&mdash;more than four times what runner-up TNT earns in a year ($1.42 billion).</p>
<p>
<a href="http://www.adweek.com/news/television/skipper-146804" target="_blank">ESPN also beats all comers in the ad game</a>, generating $2.07 billion in sales revenue at ESPN and ESPN2.</p>
<p>
Shares of Disney were flat at $66.09 in mid-afternoon trading.</p>
TelevisionACCAd sales revenueAdvertising SalesBCS Championship SeriesBristol, ConnecticutAnthony Crupicarriage feesDigital Center 2EspnESPN2LayoffsMajor League BaseballNational Basketball AssociationNational Football LeagueRBC CapitalSportsSports Media RightsWalt Disney Co.Tue, 21 May 2013 18:39:03 +0000149702 at http://www.adweek.comDaily News Layoffs Continuehttp://www.adweek.com/news/press/daily-news-layoffs-continue-149333
Maura McGowan<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/fired-hed-2013.jpg"> <p>
The Daily News is undergoing a rash of layoffs, <a href="http://www.capitalnewyork.com/article/media/2013/05/8529873/round-two-more-layoffs-daily-news-outer-borough-desks-expected-take-hi" target="_blank">Capital New York</a> reported. Around 15 employees were given pink slips yesterday, with another round of cuts planned for today.</p>
<p>
The Daily News has not had such a large-scale downsizing since editor in chief Colin Myler took over in November 2011. Myler attributed the cuts to a &quot;restructuring&quot; effort that will emphasize digital.</p>
<p>
It has been a tumultuous day for New York news media. At The Village Voice, editor in chief Will Bourne and deputy editor Jessica Lustig <a href="http://www.nytimes.com/2013/05/10/business/media/top-editors-abruptly-leave-village-voice.html?_r=0" target="_blank">stepped down</a> rather than oversee a round of layoffs. The New York Post has also been hit by cutbacks, <a href="http://www.capitalnewyork.com/article/media/2013/05/8529876/new-york-post-offers-buyouts-seeks-10-percent-staff-reduction-attempt-" target="_blank">offering voluntary buyouts</a> in order to downsize the staff by 10 percent as News Corp. plans to divest its publishing properties and entertainment assets.</p>
The PressDaily NewsLayoffsNew York PostThe New York Daily NewsThe Village VoiceThu, 09 May 2013 18:53:56 +0000149333 at http://www.adweek.comTBWA\Chiat\Day N.Y. Cuts Staff Post Vonagehttp://www.adweek.com/news/advertising-branding/tbwachiatday-ny-cuts-staff-post-vonage-147414
Andrew McMains<p>
About 10 staffers have been laid off at the New York office of TBWA\Chiat\Day following the loss of Vonage&#39;s creative business, according to sources.</p>
<p>
The cut represents about 5 percent of the office&#39;s head count, which totals around 200.</p>
<p>
Last month, Vonage <a href="http://www.adweek.com/news/advertising-branding/vonage-completes-its-agency-search-146887" target="_blank">shifted its creative account to JWT</a>, New York, after a review. Account revenue is estimated at $10 million.</p>
<p>
In the review, TBWA\C\D defended against JWT and Havas Worldwide in New York. TBWA\C\D had handled the business <a href="http://www.adweek.com/news/advertising-branding/updated-tbwacd-wins-vonage-98878" target="_blank">since 2009</a>.</p>
<p>
Horizon Media won a separate parallel pitch for Vonage&#39;s media account, outstripping Mindshare, TargetCast and the incumbent, OMD. Roth Associates in New York managed the process.</p>
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Advertising & BrandingJwtLayoffsReviewTBWA\Chiat\DayVonageWed, 20 Feb 2013 15:26:55 +0000147414 at http://www.adweek.comTime Inc. Cuts 6 Percent of Staffhttp://www.adweek.com/news/advertising-branding/time-inc-cuts-6-percent-staff-146871
Lucia Moses<img src="http://www.adweek.com/files/imagecache/node-detail/news_article/moses-time-cuts-hed-2013.jpg"> <p>
As expected, CEO Laura Lang announced widespread layoffs at Time Inc. today. If there&#39;s a silver lining, it&#39;s that the number&mdash;about 480, or 6 percent of the global headcount of 8,000&mdash;was a little less than some press reports put it. In a memo, Lang said the cuts come from across the company in the U.S. and overseas. Less than half the number are based in New York.&nbsp;</p>
<p>
Employees have been on pins and needles for months about the expected layoffs, and today&#39;s news brought a mix of sadness and relief. &quot;We&#39;ve been sitting here for months with all the speculation,&quot; one staffer said.&nbsp;</p>
<p>
Lang, who came from digital ad agency Digitas, was pithy in her remarks to employees announcing the layoffs, expressing appreciation to the people being laid off and putting the cuts in the context of the print-centric company&rsquo;s need to transform itself to become multiplatform. Here&#39;s the text of her note:</p>
<p>
<em>Today we are beginning the painful process of reducing our global staff of 8,000 by approximately six percent.&nbsp; I first want to thank the people who will be leaving us for their years of hard work and dedication to the company.&nbsp;&nbsp; They are so much more than Time Inc. employees.&nbsp; They are good friends and trusted colleagues with whom we have worked closely.&nbsp; Losing them is going to be very difficult for everyone.&nbsp;&nbsp; They come from all areas of Time Inc. across our locations - both domestic and international.&nbsp;&nbsp;&nbsp; I am grateful for their service and I know you join me in wishing each of them all the best.&nbsp;</em></p>
<p>
<em>With the significant and ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform.&nbsp; To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives.&nbsp;&nbsp; These reductions are part of this important transformation process.&nbsp;</em></p>
<p>
<em>I know the coming days and weeks will be hard and I want to thank you in advance for your patience as we work through this period. &nbsp;&nbsp;</em></p>
<p>
The reduction at the Time Warner publishing unit will follow cuts at other media companies and come a week before the parent&#39;s fourth-quarter earnings release, set for Feb. 6. <em>The New York Times</em> just undertook a buyout to eliminate 30 people from the newsroom; Thomson Reuters laid off 3,000 of 50,000 people across the company; and <a href="http://www.adweek.com/news/advertising-branding/meredith-corp-lays-staff-146650">Meredith Corp. cut 60</a>, or about 2 percent of its workforce, to name a few.</p>
<p>
The Newspaper Guild has labor agreements that cover people at <em>People</em>, <em>Sports Illustrated</em>, <em>Fortune</em> and <em>Money</em>. Guild-covered employees are usually notified of pending layoffs and given the opportunity to take buyouts. As of late Tuesday, the guild hadn&rsquo;t been notified of any plans for layoffs, according to a rep there.</p>
<p>
Time Inc. made deep staff cuts in 2008 and 2009. But in the third quarter of 2012, publishing revenues declined 6 percent, in part reflecting a 6 percent decrease in subscription revenues and 5 percent decrease in advertising revenues. This round of cuts is expected to be felt across the board although it would seem that <em>Sports Illustrated</em> would be less impacted because it took steps to&nbsp;<a href="http://www.adweek.com/news/press/si-photogs-hit-staff-cuts-141989 ">reduce staff over the summer</a>.</p>
<p>
&ldquo;Magazines are an industry in secular decline,&rdquo; said Pivotal Research analyst Brian Wieser. &ldquo;If you are Time Inc., you really don&rsquo;t have much of a leg to stand on.&rdquo;&nbsp;</p>
Advertising & BrandingThe PressLaura LangLayoffsOnlinePeopleLucia MosesTimeTime Inc.Time WarnerMagazineWed, 30 Jan 2013 03:21:39 +0000146871 at http://www.adweek.com